Amazon Infuses INR 450 Cr In Amazon Pay India
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India, Sept. 24 -- US-based ecommerce giant Amazon has infused INR 450 Cr into Amazon Pay India, its payments arm. As per the regulatory filings accessed by Inc42, Amazon Pay India will be allotting 449,955,036 equity shares to Amazon Corporate Holdings and 44,964 equity shares to Amazon.com.incs Limited.
It is worth noting that the capital infusion has come ahead of festival season where Amazon will go head to head against Walmart-owned Flipkart, IPO-bound Nykaa, Reliance-owned Ajio, among others.
Earlier this month, Amazon Pay announced to offer deposit booking services for its customers in the country. Amazon Pay announced its ties up with investment platform Kuvera.in through which Amazon Pay's customers will be able to invest in mu...
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